10_heave_wave_devices_2_gt.pdf

Ocean Power TechnologiesOcean Power Technologies

HydroKinetics ConferenceOctober 26-28, 2005

Ocean Power Technologies, Inc. 1590 Reed RoadPennington, NJ 08543USAPhone: 609-730-0400Fax: 609-730-0404

Ocean Power Technologies, Ltd.Warwick Innovation Centre,

Warwick Technology Park, Gallows Hill, Warwickshire

CV346UWU.K.

Dr. George Taylor, Chief Executive Officer

August 11, 2005 1


II.A. Brief Description Technology Class: Heave

PowerBuoy Designs Pressure Driven Fixed to Sea Floor Flotation Driven Moored but Not Rigidly Connected

PowerBuoy Attributes Subsurface Design - Minimal Visual Impact High Power Density 1 MW per 1.6 Acres

PowerBuoy Suitability Open Ocean Water Depths Greater than 30-meters Can Accommodate Any Tidal Variation (Flotation Driven Design)

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PowerBuoy Configurations

Pressure Driven PowerBuoy

Floatation Driven PowerBuoy

Sea FloorPower Cable to Shore Power Cable to Shore

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PowerBuoy - Minimal Visual Impact

PB 500

PB 250

PB 125

PB 50

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PowerBuoy Wave Power Station

Rated Capacity: 10 MW Footprint: 16 acres Water Depth: 30 to 50 meters 40 units - PB-250 (250kW) Powers 4,000 homes*

* Assumes world average of 1kw per home

August 11, 2005 5


II.B. Market Potential

Market Potential Remote Power Market - $12 billion Primary Renewable Market - $70 billion Military Desalination Hydrogen Production

Cost of Energy Scale Drives Economics PB-150: Cost competitive in remote power market at 7-10/kWh PB-500: Cost competitive in primary markets at 3-4/kWh

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II.C. Development Status

PowerBuoy 40 kW (PB-40) Development Program Development Complete Buoys are Being Deployed Off New Jersey and Hawaii

PowerBuoy 150 kW (PB-150) Development Program Design Underway Navy 1 MW Demonstration Program (Hawaii) Ibedrola 1.5 MW Demonstration Program (Spain) Total 2 to 5 MW Demonstration Program (France) NJBPU 1.5 MW Demonstration Program (New Jersey)

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PB-40 Testing ProgramWave Tank Testing (Apr. 2004, Jan. 2005) Measured dynamic performance Record responses to wave periods, amplitudes, and currents

Subscale Ocean Testing (Sept. 2004) Validated computer models Confirmed performance prior to full-scale fabrication

Ocean Testing -Fall 2005 Tests operation in ocean environment Tests tidal compensation design Tests mooring system design

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PB-40 New Jersey Test Site

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PB-40 Hawaii Test Site

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PB-40 Power Electronics

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PB-40 Factory Testing

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PB-40 Sub-Assembly

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PB-40 Ready to Ship

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PB-40 Ready to Ship

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PB-40 Final Assembly

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PB-40 Mooring Buoys

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PB-40 Mooring Deployment

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PB-40 Tow Out

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PB-40 Tow Out

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PB-40 Ready to Ballast

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PB-40 Installed

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1.5 MW Ibedrola Demonstration Program

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1.5 MW Ibedrola Site Plan

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1.5 MW Ibedrola Bathymetry

Predominate Wave Direction - Northwest

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1.5 MW Ibedrola Load Factor

* Calculation assumes 40-meter water depth

PowerSeason Production*, MWh Capacity FactorWinter 1,270 38.7%Spring 970 29.5%Summer 680 20.7%Fall 980 29.8%Total - Annual 3,900 29.7%

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PB-40 Hawaii Tow-Out

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PB-40 Hawaii Deployment

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PB-40 Hawaii Completion

August 11, 2005 29


II.C. Opportunities to Improve Rate of Commercialization

Financial Incentives Need Government Supported Demonstration Programs to

Bridge the Gap from R&D to Commercialization Need Energy Price and Capital Cost Subsidies to Overcome

Price/Cost Spread

Technical Innovations Power conversion efficiency improvements Doubling the buoy diameter, quadruples power output Advanced materials in the construction of the system

10_heave_wave_devices_2_gt.pdf

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